Challenges for key export groups

Up to now, it has been more than a month since the US applied an average tax rate of 20% on imported goods from Vietnam. The tax rate for each group of goods is different: textiles and garments are nearly 38%; footwear is more than 33%; wood and wood products are more than 19%... This is a challenge for businesses in many industries. Although exports are facing difficulties, they still maintain a good growth rate.

Production of train components for export to the US at Trans Machine Technologies Vietnam Co., Ltd. in Nhon Trach 3 Industrial Park - Phase 2, Nhon Trach Commune, Dong Nai Province.

According to economic experts, Vietnam's export turnover in the last 4 months of 2025 may slow down compared to the first months of the year. The reason is that due to high taxes, consumers in the US may reduce their purchases. The US is the largest export market of Vietnam as well as Dong Nai, so the decrease in purchasing power of this market will directly affect production and export.

Identify major export markets

Since the beginning of 2025, many associations and industries have strengthened connections and promoted domestic and foreign trade to expand export markets across many countries and territories to limit over-dependence on a few markets.

According to the General Statistics Office, in the first 8 months of 2025, Vietnam exported nearly 306 billion USD, an increase of 14.8% over the same period in 2024. Of which, 6 major export markets of Vietnam accounted for more than 78% of the total export turnover, respectively the US, China, the European Union (EU), ASEAN, South Korea, and Japan. Of which, the US continues to be Vietnam's largest export market with a turnover of 99.1 billion USD in the first 8 months of 2025.

The economic growth rate of the US, China and many other countries has decreased, leading to a decrease in the demand for imported goods. The EU market has imposed technical barriers by requiring exporting enterprises to meet green production and sustainable development criteria. In the Korean, Japanese and ASEAN markets, Vietnamese goods face fiercer competition with similar goods from China, India and many other countries. Therefore, enterprises must simultaneously worry about maintaining market share in traditional markets and opening new markets to achieve high growth, contributing to the economic development of the whole country.

Dr. Can Van Luc, member of the National Financial and Monetary Policy Advisory Council, said: Global trade growth in 2025 will slow down, likely reaching only 1.8% (growth in 2024 will be 3.4%). Thus, exports may decrease due to weaker consumer demand. In addition, exporting enterprises must face the trend of increasing trade protection, export control and investigation of tax evasion, origin, and transit. Enterprises also face the risk of being subject to reciprocal taxes and restrictions on high-tech exports... The US imposes an average reciprocal tax of about 20% on imported goods from Vietnam, with an estimated additional value of about 25-30 billion USD/year.

The country’s major export markets are also Dong Nai’s major export markets. Therefore, many Dong Nai enterprises are trying to maintain their market share in these markets.

 

Chairman of Ho Chi Minh City Textile and Garment Association Pham Xuan Hong: Textile and garment exports will be from 46-47 billion USD

In 2025, Vietnam aims to export textiles and garments worth 46-47 billion USD, an increase of 2-3 billion USD compared to 2024. In the first 8 months of 2025, Vietnam's textile and garment exports reached nearly 26.5 billion USD, an increase of 8.5% compared to the same period in 2024. Export turnover to the US alone accounted for about 40%. From the third quarter of 2025, Vietnam's textile and garment exports to the US showed signs of slowing down because they had to pay a high reciprocal tax of about 38%. Therefore, many businesses had to renegotiate contracts with customers to share the difficulties.

However, the Vietnamese textile industry has the advantage of product quality that is highly appreciated by customers around the world. At the same time, textile enterprises can quickly execute difficult orders in a short time, so many partners still choose to place orders in Vietnam. In addition, enterprises proactively increase exports to other countries such as Japan, Korea, Europe, China, etc., so the possibility of still achieving the annual plan.

 

 

Mr. Nguyen Ngoc Hoa, Chairman of Ho Chi Minh City Business Association: Increasing the domestic content ratio of products will reduce risks.

The export situation in the last months of 2024 will face many difficulties, so businesses need to be proactive and flexible in responding. Specifically, invest in digital transformation to ensure green and environmentally friendly products, and find ways to reduce logistics costs.

Enterprises prioritize finding domestic raw materials to increase the localization rate of products. When exporting to countries with which Vietnam has signed free trade agreements, they will enjoy preferential tariffs. In addition, products with a high localization rate when exported to the US will avoid the risk of being taxed as transit goods.

Khanh Minh (written)

 

Dong Nai exports "surpass the waves"

Dong Nai province has trade relations with more than 180 countries and territories. In the first 8 months of 2025, Dong Nai exported nearly 22.9 billion USD, an increase of nearly 19% over the same period in 2024. Currently, the US is Dong Nai's largest export market, accounting for nearly 34.6% of the province's total export turnover. The major export industries of Dong Nai enterprises to the US are footwear; machinery, equipment and spare parts; computers and electronic products; textiles; textile fibers; wood products, etc.

Dong Nai's total export turnover in August 2025 reached nearly 3.35 billion USD, an increase of more than 5.4% over the previous month and an increase of nearly 17.5% over the same period in 2024.

 

The US imposition of new tariffs on imported goods from Vietnam has increased production costs. Many foreign customers are calculating and reallocating orders accordingly. This forces businesses in Dong Nai as well as the whole country that export to the US to adjust their production plans, find ways to reduce costs, and increase competitiveness to retain traditional customers.

Mr. Tran Cong Dua, Project Manager of Trans Machine Technologies Vietnam Co., Ltd. (100% US capital) in Nhon Trach 3 Industrial Park - Phase 2, Nhon Trach Commune, Dong Nai Province said: “The company specializes in manufacturing components for trains and most of its products are exported to the US. The US's increase in reciprocal tariffs has directly affected the business. However, the business tries to apply modern technology to the production process to increase productivity and quality, meeting orders requiring high precision in a short time. Therefore, the product output is still quite favorable.”

In Dong Nai, there are many large enterprises and corporations exporting to the US such as: Hyosung, Phong Thai, Taekwang Vina, Changshin, Pouchen, Fleming, Nestlé, Schaeffler, etc. In addition to the US market, enterprises focus on opening new markets to ensure production and employment for workers. In the first 8 months of 2025, Dong Nai's export turnover was more than 4% higher than the national average. This demonstrates the flexibility and timely adaptation of enterprises to economic and political fluctuations in the world.

According to businesses in the province, exports in the last months of 2025 will face many challenges. However, businesses expect the Government, ministries, branches and provinces to increase domestic and foreign trade promotion to expand export markets, especially markets with much untapped potential.

Khanh Minh

Source: https://baodongnai.com.vn/kinh-te/202509/thach-thuc-voi-cac-nhom-hang-xuat-khau-chu-luc-3f32a3a/